The Government on 08th Feb 2023 said the number of recognized startups has increased from 445 in 2016 to 86 thousand 713 in 2022. The Minister of State for Commerce and Industry Som Prakash said a maximum number of over ten thousand start-ups has been set up in the IT sector followed by over eight thousand start-ups in Healthcare and Life Science.
He said various measures have been undertaken by the Government under the Startup India initiative to encourage and promote innovation and entrepreneurship across the country. He said, there is at least one recognised startup in every State and Union territory spread across over 80 per cent of the districts across the nation.